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Wedding Prenuptials Pros Cons before ceremony

October 31, 2013 8:05 pmViews: 217

  Wedding prenuptials are contracts that couples, if they have one, sign before they are married. 
Wedding Prenuptials Pros Cons before ceremony

  Statistics show that divorce is 50 percent on the rise.  And often wedding prenuptials are just as important as a marriage license.

  A prenuptial agreement may not be necessary.  But, knowing about them may help with some issues.

  A prenuptial agreement. Ante-nuptial agreement.  The common abbreviation is prenup or prenupt. And it is a contract that you enter into before your marriage ceremony.

  The content of wedding prenuptials can vary.  Commonly it includes provisions for division of property. And spousal support in the event of divorce or marriage breakup.

  They may include terms for forfeiture of assets.  And conditions of guardianship may be added.

  In most countries wedding prenuptials are not allowed to regulate issues relating to children of the marriage.  Custody and access issues require a legal citation.

PROS.

• A premarital can protect the inheritance rights of children and grandchildren from a previous marriage.

• A premarital can protect business interests. So that the business or practice is not divided. Or controlled by the former spouse upon divorce.

• If one spouse has significantly more debt than the other. A prenuptial can protect the debt-free spouse from the obligation of the other.

• If you plan to give up a lucrative career. A prenuptial can ensure compensation if the marriage does not last.

• A premarital can cover details of decision-making agreed in advance.

• The premarital can cover responsibility sharing agreed in advance.

• Premarital can limit the amount of spousal support that one spouse will pay the other upon divorce.

• A premarital can protect the financial interests of older persons.

• Premarital can protect persons who are entering into second or subsequent marriages.

• A premarital can protect persons with substantial wealth.

CONS.

• The agreement may require the right to inherit from a spouse’s estate when they die. Under the law a spouse is entitled to a portion of the estate. Even if the deceased spouse does not include this provision in their will.

• If a spouse contributes to the continuing success and growth of a spouse’s business. A spouse may not be entitled to claim a share if agreed otherwise in an agreement.

Under some laws this increase in value would be considered divisible marital property.

• Starting a relationship with a contract that sets forth what will happen upon death or divorce can cause a sense of lack of trust.

• Wedding prenuptials can take the wind out of your emotional sails.

• It can be difficult to project into the future. What may seem like nothing in the premarital period may seem more monumental in reality.

• A low- or non-wage earning spouse may not be able to sustain the lifestyle they become accustomed to during the marriage. If an agreement limits the amount of support they are entitled.

• In the honeymoon stage of a relationship one spouse may agree to terms that are not in their best interests.

Source: Prenuptial agreement.

More articles you may like to read before your wedding.
Before you say ‘I Do’.
Wedding Budget Planning.
Before you ask “Will you Marry Me?”
Groom Planning & Budgets.
Marriage Licence – general information.

W&H | Wedding Prenuptials Pros Cons before ceremony.

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